d. The University of Florida paid $21,750 in advance for refundable airline tickets to fly the baseball team to a tournament in California. The first game will be played in March. Answer from the university's standpoint. e. A Houston Community College employee worked eight hours, at \$17 per hour, on January 31; payday is not until February 3. Answer from the college's point of view. f. Wang Company paid $6,240 for a fire insurance policy on January 1 . The policy covers 12 months beginning on January 1. Answer from Wang's point of view. 9. Ziegler Company, a farm equipment company, received a phone bill for $535 of January calls. The bill has not been paid to date. Under accrual basis accounting, expenses are recognized when incurred. The following transactions occurred in January: Required: For each of the transactions, if an expense is to be recognized in January, indicate the amount. (Enter your answers in dollars but not in millions.) Under accrual basis accounting, expenses are recognized when incurred. The following transactions occurred in January: Required: For each of the transactions, if an expense is to be recognized in January, indicate the amount. (Enter your answers in dollars but not in millions.)